Picture this: A Colbert portrait auction

Frank Stella, Shepard Fairey and Andres Serrano help boost the value of the portrait

(CNN) -- A portrait of comedian Stephen Colbert will be auctioned off Tuesday, with proceeds going to school arts projects.

The portrait, which appeared on the set of "The Colbert Report" in December, shows the host in six different poses -- one for each season of the series. The pose from the first season of the show is farthest in the background.

As part of a skit on the show that also featured entertainer Steve Martin, Colbert "raised" the portrait's value by having three noted artists add their own special touches.

Minimalist artist Frank Stella identified the portrait as art, with quick glance. Much to the delight of the ever coy Colbert.

"Is that a super power you have?" he asked the artist.

"If you want to look at art, you can find it," Stella said.

Two other artists modified the portrait.

Shepard Fairey, who created the now-famous Obama-Hope-Progress posters popularized during the 2008 election, spray-painted the word "obey" in gold over two sections of the portrait, adding to the satire of the Colbert's right-wing persona.

"This is now a viable artwork," Martin deadpanned. "It could be auctioned and it do well."

Putting the final touch on the portrait was artist and photographer Andres Serrano, who used a Sharpie to draw "devil horns" and a Hitler-like moustache on Colbert's image. He also signed it.

"So that's real art now," Colbert said. "Buy it!"

Colbert fans will get their chance Tuesday. The auction is handled by Phillips de Pury & Company in New York.